Pittsford Federal Credit Union Mortgage Rates, Fees & Info

Pittsford, NY

LEI: 549300P3STF5YYEJYO93

Tax ID: 23-7059570

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Pittsford Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Pittsford Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Rochester.

    Pittsford Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Pittsford Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 4.72% 4/28/24
    30 Year Conventional Purchase 6.32% 4/28/24
    30 Year Conventional Refi 6.28% 4/28/24
    30 Year Cash-out Refi 5.97% 4/28/24
    15 Year Conventional Purchase 5.62% 4/28/24
    15 Year Conventional Refi 5.43% 4/28/24
    15 Year Cash-out Refi 5.43% 4/28/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Pittsford Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Pittsford Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    361

    Origination Dollar Volume (All Markets)

    $63,315,000

    Awards

    Pittsford Federal Credit Union 30 Year Conventional Loans gold Pittsford Federal Credit Union 30 Year Conventional Loans bronze
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ROCHESTER, NY (FHA|USDA|VA) 360 $63,250,000 $175,694 $1,801 3.22%
    Outside of Metro Areas 1 $65,000 $65,000 $1,531 2.63%
    Pittsford Federal Credit Union's top markets include and Rochester among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Pittsford Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Pittsford Federal Credit Union
    Similarity Rank: 70
    RELIANT COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 190
    ESL Federal Credit Union
    Similarity Rank: 276
    FAMILY FIRST OF NY
    Similarity Rank: 378
    Fairport Savings Bank
    Similarity Rank: 399
    THE SUMMIT Federal Credit Union
    Similarity Rank: 432
    Five Star Bank
    Similarity Rank: 589
    HOME TOWN FUNDING, INC.
    Similarity Rank: 1254
    The Lyons National Bank
    Similarity Rank: 1856
    PARAGON HOME LOANS INC.
    Similarity Rank: 1856

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 361 $63,315,000 $175,388 $1,800 3.21%

    For 2020, Pittsford Federal Credit Union's most frequently originated type of loan was Conventional, with 361 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 182 $30,210,000 $165,989 $1,498 3.37%
    Refi 101 $19,685,000 $194,901 $1,827 2.89%
    Home Purchase 77 $13,395,000 $173,961 $2,501 3.25%
    Other 1 $25,000 $25,000 $0 5.00%

    For 2020, Pittsford Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 182 originations. The 2nd most popular reason was Refi, with 101 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 117 $22,485,000 $192,179 $1,775 2.80%
    20 Year 115 $22,945,000 $199,522 $1,864 3.19%
    30 Year 67 $11,765,000 $175,597 $2,660 3.36%
    10 Year 53 $5,455,000 $102,925 $869 3.83%
    5 Year 6 $130,000 $21,667 $0 4.33%
    Other 2 $520,000 $260,000 $1,721 2.69%
    3 Year 1 $15,000 $15,000 $0 5.50%

    For 2020, Pittsford Federal Credit Union's most frequently cited loan duration was 15 Year, with 117 originations. The 2nd most popular length was 20 Year, with 115 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 348 $60,420,000 $173,621
    $1k-2k 8 $2,020,000 $252,500
    $2k-3k 4 $700,000 $175,000
    $3k-4k 1 $175,000 $175,000

    Pittsford Federal Credit Union's average total fees were $2,660, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 348 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 215 $41,965,000 $195,186
    3-4% 108 $19,520,000 $180,741
    4-5% 21 $1,185,000 $56,429
    5-6% 16 $620,000 $38,750
    6-7% 1 $25,000 $25,000

    During 2020, Pittsford Federal Credit Union's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 2.5-3%, with 215 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 159 $23,645,000 $148,711 $1,961 3.06%
    $200k-400k 113 $29,965,000 $265,177 $2,115 3.03%
    $100,000 or less 79 $4,585,000 $58,038 $938 3.83%
    $400k-600k 8 $3,830,000 $478,750 $2,458 2.88%
    $600k-1MM 2 $1,290,000 $645,000 $2,597 2.88%

    2020 saw Pittsford Federal Credit Union place emphasis on $100k-200k loans with 159 originations, totaling $23,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 94 $15,780,000 $167,872 $1,732 3.31%
    $150k-250k 84 $17,540,000 $208,810 $1,790 3.24%
    $50k-75k 72 $9,420,000 $130,833 $1,766 3.23%
    $75k-100k 44 $6,530,000 $148,409 $1,747 3.25%
    $50k or less 35 $4,165,000 $119,000 $1,930 3.18%
    $250k+ 32 $9,880,000 $308,750 $2,032 2.82%

    Pittsford Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $150k-250k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $15,400,000 $167,391 $1,892 3.23%
    30-36% 85 $15,785,000 $185,706 $1,742 3.27%
    <20% 50 $10,400,000 $208,000 $2,019 2.94%
    50-60% 18 $3,300,000 $183,333 $1,732 3.08%
    39% 15 $2,105,000 $140,333 $1,593 3.43%
    42% 13 $1,555,000 $119,615 $1,272 3.55%
    44% 11 $1,625,000 $147,727 $1,599 3.24%
    36% 10 $1,550,000 $155,000 $2,014 3.13%
    43% 9 $1,055,000 $117,222 $1,647 3.63%
    >60% 8 $1,710,000 $213,750 $1,867 3.00%
    37% 7 $1,395,000 $199,286 $1,757 3.46%
    41% 7 $1,355,000 $193,571 $2,094 3.32%
    46% 7 $1,185,000 $169,286 $1,745 3.18%
    38% 6 $1,020,000 $170,000 $1,736 2.98%
    47% 6 $1,180,000 $196,667 $2,190 3.06%
    45% 4 $560,000 $140,000 $1,300 3.56%
    40% 4 $760,000 $190,000 $831 3.97%
    49% 3 $495,000 $165,000 $1,939 2.83%
    48% 2 $410,000 $205,000 $1,745 2.75%

    Pittsford Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 85 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 321 $56,495,000 $175,997 $1,815 3.21%
    Not provided 27 $4,285,000 $158,704 $1,585 3.25%
    Asian 8 $1,850,000 $231,250 $2,191 3.06%
    Asian Indian 2 $410,000 $205,000 $1,670 2.88%
    Black 2 $260,000 $130,000 $1,698 2.75%
    Japanese 1 $15,000 $15,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    95.15%

    Pittsford Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    75.62%

    Pittsford Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 361 $63,315,000 $175,388

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 361 $63,315,000 $175,388

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $5,685,000 $116,020 $1,411 3.43%
    40-60% 68 $11,010,000 $161,912 $1,733 2.93%
    60-80% 110 $22,380,000 $203,455 $2,036 2.97%
    80-100% 108 $23,470,000 $217,315 $2,211 3.15%
    Under 20% 26 $770,000 $29,615 $0 4.84%